G20 debt relief for Africa may be too little too late as coronavirus pandemic -09takes toll

//G20 debt relief for Africa may be too little too late as coronavirus pandemic -09takes toll

G20 debt relief for Africa may be too little too late as coronavirus pandemic -09takes toll

The plan by G20 countries to suspend debt service for African countries until the end of the year may not go far enough or may come too late as coronavirus ravages economies on the continent. Vera Songwe, executive secretary of the UN’s Economic Commission for Africa (ECA), who has been spearheading negotiations between African governments and international lenders, said that by August, the G20 “debt standstill” scheme had resulted in US$2 billion in debt service relief to 18 of the 38…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2020-08-29T23:00:10+00:00 August 29th, 2020|Headlines|Comments Off on G20 debt relief for Africa may be too little too late as coronavirus pandemic -09takes toll